Fidelity National Financial (NYSE:FNF) Sets New 1-Year High – Here’s Why

Shares of Fidelity National Financial, Inc. (NYSE:FNF) reached a new 52-week high on Monday . The company traded as high as $63.32 and last traded at $63.32, with a volume of 44545 shares. The stock had previously closed at $61.94.

Analyst Ratings Changes

A number of research firms recently weighed in on FNF. Truist Financial increased their price objective on shares of Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods increased their price objective on shares of Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a report on Wednesday, September 4th. Barclays increased their price objective on shares of Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Fidelity National Financial in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Fidelity National Financial from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.60.

Fidelity National Financial Stock Performance

The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $60.66 and its two-hundred day moving average price is $55.78. The company has a market cap of $17.60 billion, a P/E ratio of 22.52 and a beta of 1.37.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the business posted $1.23 EPS. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities analysts forecast that Fidelity National Financial, Inc. will post 4.5 earnings per share for the current year.

Fidelity National Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, December 17th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 69.82%.

Insiders Place Their Bets

In other Fidelity National Financial news, Director Halim Dhanidina sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total value of $103,445.00. Following the completion of the transaction, the director now directly owns 13,206 shares in the company, valued at $803,585.10. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TPG GP A LLC acquired a new stake in shares of Fidelity National Financial during the second quarter worth approximately $83,798,000. Windacre Partnership LLC boosted its holdings in shares of Fidelity National Financial by 9.6% during the first quarter. Windacre Partnership LLC now owns 16,249,267 shares of the financial services provider’s stock worth $862,836,000 after purchasing an additional 1,424,767 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Fidelity National Financial by 8.5% during the second quarter. Victory Capital Management Inc. now owns 8,181,554 shares of the financial services provider’s stock worth $404,332,000 after purchasing an additional 640,829 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fidelity National Financial by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,025,159 shares of the financial services provider’s stock worth $498,041,000 after purchasing an additional 289,962 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Fidelity National Financial during the third quarter worth approximately $11,469,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.